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Post by banffy on May 24, 2019 15:21:47 GMT
So should these P2P sites change the terms and conditions for the first time to benfit the lenders that no claims against the lenders can ever be made or is this too complicated otherwise we might as well forget P2P as who is next to try bring us lenders into it. I'm also in the London Loan with Lennnnny
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michaelc
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Post by michaelc on May 25, 2019 17:33:12 GMT
So should these P2P sites change the terms and conditions for the first time to benfit the lenders that no claims against the lenders can ever be made or is this too complicated otherwise we might as well forget P2P as who is next to try bring us lenders into it. I'm also in the London Loan with Lennnnny I'm no lawyer but my understanding is that anyone can sue anyone for anything so you can't prohibit that in the terms and conditions. What I would like to know and maybe what could be done is somehow to ensure that the exposure is proportional to your investment. As I understand it, in the Lendy case, in theory the borrower could have picked on just one lender and sued him for the entire sum he is claiming. But again as I understand it, in this case I _think_ the most the lenders could lose is an amount proportional to their stake. Would be grateful if someone could confirm that and maybe even explain why and if such terms could/should be adopted by all p2p platforms going forward?
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zlb
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Post by zlb on May 25, 2019 19:29:39 GMT
So should these P2P sites change the terms and conditions for the first time to benfit the lenders that no claims against the lenders can ever be made or is this too complicated otherwise we might as well forget P2P as who is next to try bring us lenders into it. I'm also in the London Loan with Lennnnny I'm no lawyer but my understanding is that anyone can sue anyone for anything so you can't prohibit that in the terms and conditions. What I would like to know and maybe what could be done is somehow to ensure that the exposure is proportional to your investment. As I understand it, in the Lendy case, in theory the borrower could have picked on just one lender and sued him for the entire sum he is claiming. But again as I understand it, in this case I _think_ the most the lenders could lose is an amount proportional to their stake. Would be grateful if someone could confirm that and maybe even explain why and if such terms could/should be adopted by all p2p platforms going forward? There'd also need to be protection from having to pay out more than one's loan part. Lenders being held liable for more than their investment.
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dermot
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Post by dermot on May 28, 2019 16:40:11 GMT
I've always rather liked the adage: A lawyer who represents himself has a fool for a client.
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Post by nooneere on May 29, 2019 17:28:29 GMT
I've always rather liked the adage: A lawyer who represents himself has a fool for a client. Further to this, I found the following in a legal article by a Californian attorney called Mark Morodomi www.acbanet.org/2017/07/19/man-represents-fool-client/"When you took your first bar review prep course you probably heard the adage, “The man who represents himself has a fool for a client.” The internet tries to attribute the quote, like many other profundities, to Abraham Lincoln, but some sources credit it years earlier to English clergyman Henry Kett. Regardless who said it or who said it first, the wisdom of the adage are at least two. First, an individual, even if he or she is a trained lawyer, may not have the expertise in the particular area of law at issue, even though many of us think we are smart enough to figure anything out. (We lawyers are sometimes too smart for our own good.) More precarious is that someone who represents him or herself is likely to lack the ability to see both sides of a case. As lawyers, we all know how difficult it is to convince a head strong client from doing something stupid." I think the last two sentences are very pertinent to our own borrower. I do hope he reads this forum - I don't see why others are afraid of that!
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dermot
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Post by dermot on May 29, 2019 17:38:44 GMT
I've always rather liked the adage: A lawyer who represents himself has a fool for a client. Further to this, I found the following in a legal article by a Californian attorney called Mark Morodomi www.acbanet.org/2017/07/19/man-represents-fool-client/:"When you took your first bar review prep course you probably heard the adage, “The man who represents himself has a fool for a client.” The internet tries to attribute the quote, like many other profundities, to Abraham Lincoln, but some sources credit it years earlier to English clergyman Henry Kett. Regardless who said it or who said it first, the wisdom of the adage are at least two. First, an individual, even if he or she is a trained lawyer, may not have the expertise in the particular area of law at issue, even though many of us think we are smart enough to figure anything out. (We lawyers are sometimes too smart for our own good.) More precarious is that someone who represents him or herself is likely to lack the ability to see both sides of a case. As lawyers, we all know how difficult it is to convince a head strong client from doing something stupid." I think the last two sentences are very pertinent to our own borrower. I do hope he reads this forum - I don't see why others are afraid of that! And I wasn't just taking aim at lawyers (tempting target though it may be) as the adage is valid for a number of professions; one frequently needs a bit of distance, few medical doctors of my acquaintance would diagnose/treat themselves without external input.
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Post by nooneere on May 29, 2019 18:02:13 GMT
Further to this, I found the following in a legal article by a Californian attorney called Mark Morodomi www.acbanet.org/2017/07/19/man-represents-fool-client/"When you took your first bar review prep course you probably heard the adage, “The man who represents himself has a fool for a client.” The internet tries to attribute the quote, like many other profundities, to Abraham Lincoln, but some sources credit it years earlier to English clergyman Henry Kett. Regardless who said it or who said it first, the wisdom of the adage are at least two. First, an individual, even if he or she is a trained lawyer, may not have the expertise in the particular area of law at issue, even though many of us think we are smart enough to figure anything out. (We lawyers are sometimes too smart for our own good.) More precarious is that someone who represents him or herself is likely to lack the ability to see both sides of a case. As lawyers, we all know how difficult it is to convince a head strong client from doing something stupid." I think the last two sentences are very pertinent to our own borrower. I do hope he reads this forum - I don't see why others are afraid of that! And I wasn't just taking aim at lawyers (tempting target though it may be) as the adage is valid for a number of professions; one frequently needs a bit of distance, few medical doctors of my acquaintance would diagnose/treat themselves without external input. You're not a psychiatrist by any chance? That's what we need on here ...
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dermot
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Post by dermot on May 29, 2019 18:22:41 GMT
And I wasn't just taking aim at lawyers (tempting target though it may be) as the adage is valid for a number of professions; one frequently needs a bit of distance, few medical doctors of my acquaintance would diagnose/treat themselves without external input. You're not a psychiatrist by any chance? That's what we need on here ... No, but I've worked with several on occasion. Oh, the stories I could tell ....
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amwinv
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Post by amwinv on May 30, 2019 12:08:45 GMT
You're not a psychiatrist by any chance? That's what we need on here ... No, but I've worked with several on occasion. Oh, the stories I could tell .... This is an anonymous forum. Start a thread, star out the names, and give us all the juicy goss!!!
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travolta
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Post by travolta on Jun 28, 2019 15:40:16 GMT
Is anyone up to speed on this case please?
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Mousey
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Post by Mousey on Jun 29, 2019 16:42:52 GMT
Is anyone up to speed on this case please?
As per my last update:
It has yet to be uploaded.
I see there was some discussion about him representing himself... I understand he will be instructing counsel in future hearings.
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DeafEater
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Post by DeafEater on Jun 29, 2019 20:00:52 GMT
I see there was some discussion about him representing himself... I understand he will be instructing counsel in future hearings. In the circumstances he may find it difficult raising the capital he needs to pay for independent counsel. 
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IFISAcava
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Post by IFISAcava on Jun 30, 2019 10:11:32 GMT
I see there was some discussion about him representing himself... I understand he will be instructing counsel in future hearings. In the circumstances he may find it difficult raising the capital he needs to pay for independent counsel. Many people use CFAs (conditional fee agreement) for this reason. Just need to persuade a barrister that there's a reasonable chance of wining, and take out some after the event insurance for costs if you lose.
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Mousey
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Post by Mousey on Jul 3, 2019 5:33:21 GMT
And the particulars of claim is now available online for £16.50.
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ganymede
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Post by ganymede on Jul 3, 2019 10:28:24 GMT
And the particulars of claim is now available online for £16.50. That's likely more than most invested in total in the loans. certainly is for me.
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